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Federal Reserve details new round of stress tests - Nov. 16, 2012 - 0 views

money.cnn.com/...index.html

shared by bparksj28 on 16 Nov 12 - No Cached
  • The Federal Reserve, preparing to embark on its latest round of so-called stress tests, released the details Friday of three economic scenarios it will use to judge the health of the U.S.'s largest lenders.
  • 5% decline in gross domestic product, an unemployment rate of 12% and a volatile stock market which loses half its value.
  • The stress tests are mandated by Dodd-Frank, the financial reform law written in the wake of the 2008 financial crisis that brought down Bear Stearns and Lehman Brothers.
  • ...2 more annotations...
  • Last year, the Fed's tests showed a majority of the nation's largest banks would be able to weather another deep recession.
  • Ally Financial, Citigroup (C, Fortune 500) and SunTrust (STI, Fortune 500) -- would likely need new capital from either investors or the government in the Fed's adverse economic scenario
  • bparksj28 on 16 Nov 12
     
    Dodd-Frank Act - stress test 2012
bparksj28

8 Truths About Retirement - Business Insider - 0 views

www.businessinsider.com/ruths-about-retirement-2012-10

social secutiy statistics

shared by bparksj28 on 31 Oct 12 - No Cached
  • irement planning.
  • Retirement Week,” an educational campaign to raise public awareness about the importance of long-term re
  • National Save fo
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  • encourages Americans to utilize retirement savings and investment plan strategie
  • The week also encourages individuals to reflect on their current financial situations and their potential for a secure retirement in the future.
  • 2. Half of Americans aren’t saving for retirement
  • 49 percent of Americans say they aren’t contributing to any retirement plan. Those least likely to save for retirement: individuals between ages 18 and 34.
  • planning a home remodel and planning a vacation ranked higher on the list of priorities within the past year than planning for retirement (which ranked third).
  • respondents
  • Apparently 80 is the new 65 for many middle-class Americans when it comes to retirement. One-third of survey
  • The majority of middle-class Americans aren’t confident in the stock marke
  • When survey respondents were asked what they’d do if given $5,000 to invest for retirement, only 24 percent said they’d invest in stocks – compared to 40 percent who would choose a CD or savings account and another 22 percent who would invest in gold or precious metals.
  • Women are less engaged in retirement planni
  • More than 20 percent of Americans have borrowed against their 401(k), the highest percentage since 1996, according to the Employee Benefit Research Institute. The average loan size is 14 percent of the remaining account balance.
  • About 95 percent of companies are back to matching 401(k) contributions, but only 30 percent of employees are taking advantage of this, according to a survey by the nonprofit Plan Sponsor Council of America.
  • Forty percent of Americans fear lack of retirement funds
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